Owlchemy Labs Nabs $5 Million in Venture Capital

Owlchemy Labs, an independent virtual reality game developer, announced this week the company has closed on $5 million in venture capital.

The Austin-based startup moved here from Boston, where Alex Schwartz founded the company in 2010.

Owlchemy Labs raised a $5 million Series A round from Qualcomm Ventures, HTC, The VR Fund, Colopl VR Fund, Capital Factory and other Austin-based investors, according to a blog post by the company.

“This is an incredibly exciting time in Owlchemy’s history,” according to the blog post. “Job Simulator is making waves as a bundled launch title for HTC Vive, making it one of the most played VR games to date. Job Simulator is also slated to be a launch title for both Oculus Touch and PlayStation VR later this year.”

The company, with 16 employees, plans to continue expanding its “Job Simulator” game with new content. It also recently announced a partnership with Adult Swim to bring hit animated series “Rick and Morty” into virtual reality. “Both titles, along with forthcoming unannounced titles, are powered by the company’s proprietary “Owlchemy VR” technology, enabling rapid simultaneous development across multiple VR platforms,” according to a news release.